The Seaside Blog

You've worked tirelessly your whole life, diligently saving for retirement. Every time you hear someone discuss tax strategies, you get excited, only to realize they mainly apply to business owners and real estate investors. But here's the thing: even in retirement, there are plenty of tax planning opportunities that can save you a significant amount of money. Oftentimes, retirees don’t take advantage of these strategies and instead make big mistakes with their taxes. Today, we'll explore 3 common tax planning mistakes retirees make and show you how to avoid them.

As you approach retirement age, it is crucial to have a comprehensive understanding of how your benefits will be taxed. Social security taxes can be complex and confusing, but with the right knowledge, we can help you make informed decisions to minimize them. In this article, we will demystify social security taxes and explore how they affect both retirees and working individuals.

One of your largest retirement expenses is your tax bill. But herein lies an opportunity. And that’s strategic Roth conversions during your retirement gap years. If executed correctly, this strategy can significantly reduce your tax bills over years or even decades. And that means increased odds of preserving your retirement savings for a longer period of time.

Taxes are one of the largest expenses retirees are faced with. People are routinely living into their 90’s (and beyond) and if you don’t have a good plan for tax-efficient income in retirement, you may end up paying more than your fair share in taxes over your lifetime. Taxes can take a large bite out of your retirement nest egg and one way to ensure your investments last longer is to be more tax-efficient with them. This article will show you some strategies to create tax-free income in retirement.

Getting stuck with an unexpected tax bill can be stressful and unsettling. Here are five ways to reduce your tax bill to a more manageable size.

The seven 2022 tax rates themselves didn't change (they are the same as those in effect for the 2021 tax year); however, the tax bracket ranges were modified based on inflation. Because of this, it's possible you could be in a different tax bracket for 2022 than the last time you reported your taxes, even if your income has not changed.